As I think we made a short term bottom here, I am looking for more upside to the bullish side.
We confirmed the inverse HS pattern and we could make the right shoulder on the big HS pattern in all indexes. Markets giving positive buy signals on all technical charts, MACD turned positive and stochastics going positive.
The odds for more upside in next days, is here, but a little pullback could come before running higher. But overall odds seems to be going to the positive side. Look for the break above 1110 in SPX, this will be hard, but IF this breaks, that is a strong bullish signal.
I am still long in the shares stated below, and I think small caps will turn to the upside.
BGP was a big winner from call yesterday, up 25%, but looking for more.
So now you have a Blog, congrats Sqwi!!!
ReplyDeleteThis is a very good news for me.
I'll be here to know your market views.
Wish you all the best!
FrankBanfi
In the Dow chart the distribution phase should be only in the lateral side. I'll let you a different but curious view view with HS & RS already formed:
ReplyDeletehttp://yfrog.com/mw110620101224hsp
Reverse HS 5 days chart.
http://yfrog.com/mo100620101611minisp500p
Cheers!